New Forest

15/07/2020

The Chancellor’s Summer Statement

The main thrust of his statement was to introduce measures intended to avoid widespread redundancies when the current furlough scheme comes to an end in November. There was also welcome news for the hospitality sector with the temporary reduction in the VAT rate to 5% and the 50% discount for food in catering establishments in August.

For further information see our Guide.

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Class 2 NICs are currently paid by self employed earners, however certain business property owners are also liable to pay contributions http://ow.ly/bw0750BF6hS

For children born from September 2020 the Government provided vouchers for a tax free account, which can be accessed once they reach the age of 18! More information is available here http://ow.ly/BkbV50BjQqt

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